Risks And Benefits Of A Reverse Mortgage

Risks And Benefits Of A Reverse Mortgage, Maverick Funding Co., a reverse mortgage lender license based in New Jersey, has announced the opening of a new subsidiary, Reverse Mortgage network on September 1, 2011. The main function of this company will be to help people over the age of 62 years to understand the facts of a reverse mortgage and its benefits. If it is considered beneficial to your current situation, the company will also help them get a reverse mortgage as well.

In explaining the benefits of a reverse mortgage loan, Ralph Vitiello, chief executive of Maverick Funding Corp says, “Reverse mortgages for seniors properly, can help you stay at home for his remaining years – a condition known as” aging in place “- and do things they could not otherwise do so because of their lack of income, such as living more comfortably, purchase long term care insurance, or simply do not have to worry about paying their bills. We have never seen a reverse mortgage when the borrower has not benefited greatly from it. ”

In short, a reverse mortgage, which is only available for seniors over 62 years, is a loan that allows these seniors to get cash you can use while staying in their own home ownership.

The best part about getting a loan like this is that there are no income requirements, credit or employment to worry about besides the fact that the borrower must have enough equity in your home, and preferably be able to pay its taxes and insurance for the rest of their lives.

If this were not enough, the reverse mortgage network has staffed his new company with 22 former officers of Wells Fargo reverse mortgage loan with his vast experience to serve the elderly in the best possible way.